The redevelopment of the old public housing site at 1 Runge Street in Coconut Grove is in full swing with construction now underway.

The site will be turned into affordable and private housing under the Territory Government’s Real Housing for Growth plan, providing a much needed boost to housing stock in Darwin.

“It’s great to see this exciting new development starting to take shape.” Housing Minister Matt Conlan said.

“Above ground construction work is now clearly visible with steel beams and concrete pillars erected throughout the site. I’m sure this is a welcome sight for locals with the previous 40 year old public housing block a known anti-social behaviour hot spot.”

“Reducing high concentrations of public housing is part of the Country Liberals Government’s plan to provide more appropriate and modern housing solutions for all Territorians.” Mr. Conlan said.

“The redevelopment of Runge Street has been a long time coming and this development will greatly improve the look and feel of the area.”

Known as the Eclipse Development, the new 59 two-bedroom, two-bathroom complex will provide a mixed housing development for owner-occupiers and private renters.

“Around 15 affordable rental apartments in the new complex will be reserved for key workers to be rented at 30 % below market rates under the Real Housing for Growth head-leasing initiative.” Mr. Conlan said.

“At the moment for a two-bedroom apartment that would mean the rent would be around $385 a week instead of $550 a week, which is a big saving for workers and families. A number of the new apartments will also be available for sale to eligible applicants through the Northern Territory Home Ownership initiatives including Home Build Access.”

Local developer, Michael Milatos, from Reday Joint Venture, won the tender to develop the site.

“The Eclipse Development offers a rare opportunity to secure affordable, architecturally designed apartments that offer the latest in design and lifestyle ideals.” Mr. Milatos said.

“Construction has commenced and is going well. Our first floor slab is expected to be complete by the end of next month.” Mr. Milatos said.

The complex will include a swimming pool, multi-purpose rooms, car parking and landscaping. Construction is expected to be complete by mid-2015 with private units now available for purchase off the plan from $455,000 to $485,000 through Raine and Horne.